Well-known Wedbush Morgan analyst Michael Pachter was recently quoted as saying that Valve was "supposedly" going to allow trade-ins on digital distribution service Steam. The basic idea sounds odd, and Valve thinks so too, with the company recently replying to the rumor by denying it'll offer these digital trade-ins.

Valve's vice president of marketing Doug Lombardi confirmed to Eurogamer that digital trade-ins aren't happening. "Untrue," Lombardi says of the rumor. "We've never had a meeting with Mr. Pachter. I'm not sure what else there is to say."

Funnily enough, even Michael Pachter is confused that his comments were picked up on by the media, and he doesn't remember making them. "I saw the headlines yesterday, and honestly don't remember saying that Steam would sponsor trade-ins," Pachter said. "I can only surmise that the reporter asked the question that way ('Steam is rumored to be considering taking digital trade-ins') and asked me what I thought. I have not heard this from anybody, and think it had to be the way the question was phrased."

"I am pretty sure it was posed as a hypothetical question, and I was trying to be responsive," Pachter added. His original statement said that Steam would allow for a "trade and exchange," and Valve would take a small fee from each transaction. He's either backpedaling, or his comments were taken out of context somehow.

Making Steam a digital user marketplace doesn't make a whole lot of sense for Valve when digital copies can never really be "used," because in my eyes Valve would only lose out on the deal. Maybe I'm missing something, but I can't see what Valve would have to gain from ever allowing digital trade-ins. Apparently, Valve agrees for now.

Whatever drugs Pachter is doing right now, I wish he would share as there are a lot of things I wish I could forget.OT: I'm glad Valve got on the ball on this before rumors really got out of control. It is people like Pachter that can ruin companies with stupid ignorant rants as he usually makes. And then denies making like he is some innocent angel which he isn't.

Right click your game, click "Trade-In", pop up telling you get £#/$#/€# in Magical Steam Credits for trading in your game, click okay, you then lose any access you had to that game and get credited some 'Steam Points' or something to spend on other Steam games.

Would be my guess. I can't see why Valve would offer this, but that would be my hypothetical guess as to how it might work.

O SNAP!Maybe that idiot Pachter will keep his stupid mouth shut now. Or he'll liberally use the excuse "I don't remember saying that" to spew even more bullshit. Either way, could you (that's you, Escapist writers) please stop reporting on this jackass? Frankly, just about anything is more deserving of media attention...

Tom Goldman:Funnily enough, even Michael Pachter is confused that his comments were picked up on by the media, and he doesn't remember making them. "I saw the headlines yesterday, and honestly don't remember saying that Steam would sponsor trade-ins," Pachter said. "I can only surmise that the reporter asked the question that way ('Steam is rumored to be considering taking digital trade-ins') and asked me what I thought. I have not heard this from anybody, and think it had to be the way the question was phrased."

"I am pretty sure it was posed as a hypothetical question, and I was trying to be responsive," Pachter added. His original statement said that Steam would allow for a "trade and exchange," and Valve would take a small fee from each transaction. He's either backpedaling, or his comments were taken out of context somehow.

At first I'm inclined to say that given his track record of being either completely wrong or right because he stated the obvious, I'd vote backpedaling.

But then I remember all those other times he was completely wrong, and I don't remember any backpedaling attempts for those instances (and there are a lot). So maybe he's telling the truth?

I dunno, but what is for sure is this: I'm still not going to believe any rumor starting with the phrase "Michael Pachter says..."

I can actually see this working, to a degree - you surrender your rights to game X, and in return, get a small credit to purchase game Y. The key would to make sure that "exchanged" games can't be used by someone after they trade them in.

Would never work in full practice, but if it could be linked in to auction accounts to each other with steam skimming some off of it. For example buying a TF2 account with loads of gear, or trading an EvE online account... not sure what other MMOs work via steam that it could do an auto trade (where steam changes passwords and holds money while they're being switched, etc.)

Well of course he doesn't remember saying that! The man probably picks topics out of a hat, fishes out a conjecture from his arse, and then puts them together to form a vacuous marriage of Delphic speculation that could make a weatherman look omniscient and an inflammatory nature backed by a thirst for tears. In short, Mr. Patcher needs to go back under his bridge.

Anyway, it is a shame no online trade-ins, but [from what I understand] Steam at least offers amazing deals.

Good god, if you put any faith into Pachter's predictions, you might as well base your decisions on the prophecies from the Oracle of Delphi. At least there they have a few thousand years of experience... :p

Pachter knows crap about games and gaming. His one achievement in life was convincing people who also don't know anything about gaming that he knows more than them, which isn't a very difficult task. His predictions sound good to people who sign his paychecks and that's as far as he cares.